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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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<< 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | all recent NOSYMBOL news | >>
August 3, 2015
11:45 EDTTreasury Option Action: a few standouts emerged
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11:35 EDTU.S. corporate bond update: Celgene's 5-tranche deal kicks off the August
U.S. corporate bond update: Celgene's 5-tranche deal kicks off the August calendar. Sources estimate the week's offerings will total around $20 B to $25 B. Celgene's sale includes benchmark sized 3-, 5-, 7-, 10-, and 30-year maturities. Also today is a $550 M 2-parter from Kimberly-Clark, and includes 5- and 10-year paper. JB Hunt Transport Services launched a $350 M 7-year. New York Life also has a $350 M 1-year FRN. Last month there were 78 issuers, with volume totaling $161 B, the 3rd highest volume for 2015 to date. For the year, issuance totals $1.03 tln.
11:20 EDTTreasury announced a $40 B 4-week bill sale for Tuesday
Treasury announced a $40 B 4-week bill sale for Tuesday, maintaining that volume foe a 3rd straight week, down from $45 B previously. This is a light week for supply with just bills, though the debt managers will announce the August refunding details, including 3-, 10-, and 30-year auction details, on Wednesday.
11:10 EDTFed Governor Powell said the increase in electronic trading
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11:10 EDTToday's heavy slate of U.S. data
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10:35 EDTCitadel's Shanghai Trading unit in China was suspended
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10:35 EDTThe 0.1% U.S. June construction spending rise
The 0.1% U.S. June construction spending rise looked tame, but it followed large upward revisions for April and May that were spread across the public, nonresidential, and residential construction spending components to leave a much stronger than expected report overall. The mix implies a hefty boost in Q2 GDP growth to 2.8% from 2.3%, and the revisions even included additional boosts for the home improvement residual that don't enter the GDP calculation. The Q2 GDP boost includes big hikes of $10 B for public construction, $5 B for nonresidential construction, and $2 B for residential construction. Analysts expect Q3 GDP growth of 3.0% with a flat pace for nonresidential construction that is still restrained by mining sector weakness, after an estimated 2.8% (was -1.6%) Q2 figure and a 7.4% contraction rate in Q1. Analysts expect 8% growth in Q3 real residential construction after rates of 8.3% (was 6.6%) in Q2 and 10.1% in Q1. Growth in real government purchases is pegged at 0.7% in Q3, following an estimated 2.2% (was 0.8%) rise in Q2 and a 0.1% contraction rate in Q1.
10:15 EDTTreasury Action: yields probed July lows
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10:15 EDTFX Action: The dollar largely shrugged off
FX Action: The dollar largely shrugged off the construction spending data, which came in under expectations, though upwardly revised back data oddest. EUR-USD is steady near 1.0970, while USD-JPY hangs on to the 124 handle by its fingernails. Yields are on session lows, while stocks are mixed, though under some pressure following the softer ISM print earlier.
10:10 EDTU.S. construction spending edged up 0.1% in June
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10:05 EDTFX Action: USD-CAD made 1.3176, 11-year highs
FX Action: USD-CAD made 1.3176, 11-year highs overnight, as commodity prices continued their slide. WTI crude has traded the $45 handle for the first time in over four-months, as copper prices touched over six-year lows near $2.32/lb. With Canada on holiday today, liquidity could be an issue, with further commodity deterioration liable to bring the 1.3200 mark into focus.
10:00 EDTThe U.S. ISM July drop to 52.7
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09:55 EDTU.S. construction spending preview:
U.S. construction spending preview: Construction spending is expected to grow 0.2% in June (median 0.6%) following a 0.8% gain in May. Forecast risk is upward, however, as housing data improved in June, while total construction is currently 37% above the bottom in February of 2011. For more detail, see our full construction spending preview.
09:55 EDTU.S. Auto Sales preview
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09:55 EDTU.S. Markit ISM manufacturing index inched up to 53.8 in July
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09:52 EDTDows slips in early trading after quiet open to start August
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09:45 EDTTreasury Action: yields dipped on the ISM drop
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09:35 EDTFX Action: The dollar pulled back
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09:30 EDTU.S. ISM fell to 52.7 in July from 53.5
U.S. ISM fell to 52.7 in July from 53.5, weaker than expected. The employment component dropped to 52.7 versus 55.5. Prices paid also declined, sliding to 44.0 from 49.5. The softer data should support recent gains in bonds as the September Fed rate hike is in doubt.
09:25 EDTU.S. equities are set for a subdued open
U.S. equities are set for a subdued open to kick off the month of August despite some fireworks overseas with more trouble in mainland China and Greek stocks reopening with the large haircut that debt holders have yet to take. Personal income data was not a deal breaker in terms of a Fed hike in September, but after weak ECI on Friday WSJ points out that the Fed could be back on the fence. The Dow is 20-points firmer, S&P is a point higher and NASDAQ is up 3-points in pre-open trade. In China, the Shanghai Comp fell 1.1% after a PMI sank to a 2-year low, while Japan's N-225 fell 0.18%. In Europe, Athens recovered to -15% after opening some 22% lower, though the broader Euro Stoxx 50 is 1.0% higher. Focus will be on another rash of earnings reports after the close, along with the next round of ISM, construction and auto sales reports.
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